Start-ups That Flourished Despite Economic Downturn
The Covid-19 outbreak has caused hardships to many. The pandemic gave several reasons for the corporate world for sleepless nights and anxious days.
The growing impact of the unparalleled human tragedy on the global economy has impeded the functioning of several sectors. Including, aviation, automotive, technology, pharmaceuticals,, consumer electronics, banking, travel and tourism, among others.
It cannot be denied that one of the biggest stories of the minute is the major hit delivered to the tech sector that has behemoths like Apple, Google and Amazon grappling with unexpected challenges to business continuity.
However, for some companies, it’s been a time of great recourse too. There are companies like Zoom which have gone from being somewhat unknown to becoming household names. In India, companies in education tech, online entertainment, and gaming have seen tremendous growth. Even as Ola, Uber Zomato, and Swiggy announce mass layoffs to adopt a leaner business strategy, companies like WhiteHat Jr, Gamerji, and Mirror size are actively hiring and have significantly grown their business.
So let’s begin our list shall we:
- Mirror size
a Delhi-based AI company that offers a 3D body measurement tool, has also seen a healthy rise in business. The company claims to have doubled its business and have sealed customers from Australia, the US, Pakistan, Morocco and even India. The tool helps in providing precise body measurements via a smartphone app, and in these times of social distancing, many bespoke fashion merchants have resorted to this automated option for custom-tailoring.
- WhiteHat Jr
Remember when we were kids and wanted the summer vacation not to end in a lifetime? That is exactly what the quarantine lockdown did to us.
But that meant an immense loss of students and education sec too, as a result, classrooms were digitised.
the online learning platform has seen significant leaps since lockdown. The company is looking to onboard 2000 plus teachers and 400 employees every month to supplement the increasing student base. The recruitments are for various roles in product, technology, operations and sales teams.
The company is especially interested in recruiting teachers with a strong academic background in engineering, science and technology who are deeply passionate about cutting-edge fields such as machine learning and space technology
- The After Effects of Quarantine and Chill:
The more people stay at home, the more time they spend on recreation.
In the era of coronavirus, away from the gloom and paranoia, lies the world of ‘quarantine and chill’, where people, who have confined themselves to their homes, are now finding ways to kill time. From playing music on their balconies to Instagramming dalgona coffee to digging up forgotten hobbies, people are doing whatever it takes for the days to pass. But, when it comes to recreation in a gadget-ridden world, it is the smartphone games that take the sash.
Here comes in the role of streaming platforms and gaming apps which have seen indeed a record glory over these lockdown days.
- Gamerji, for instance, has seen a 2.5 times improvement in numbers after the lockdown.
- Ludo King, a popular mobile game, saw 47per cent growth in monthly active users between April and May. Its daily user growth went up by 30per cent in the last one month. Server usage increased by 25x times in capacity – from eight servers before lockdown to over 200 servers currently.
- Consumption of entertainment content has spiked extensively as well. According to new data from content accumulation service JustWatch, based on usage of its platform, popular streaming services such as Netflix, Disney+ Hotstar, and Amazon Prime Video have profited massively from the lockdown as users look for entertainment as they sit at home.
- It was noted that Zee5 saw an increase of 259per cent in the period between March 24 and April 24. During the same period in India, Netflix saw a 204per cent increase, while Amazon Prime Video saw a 189 per cent rise.